SHANGHAI, Jul 9 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.Last weekendThe US dollar index hit a three-week low to around 93.9 and closed at 94 last Friday night. This was 0.52% lower from a week ago, marking the biggest loss in four weeks.LME base metals traded under pressure on escalated tension between China and the US. Nickel led the lo...Read More
Investing.com - This week’s U.S. inflation report on Thursday will be in the spotlight as a strong reading could bolster the case for the Federal Reserve to stick to a gradual pace of rate hikes this year, which is typically bearish for gold.Gold prices slid on Friday but still managed to post a weekly gain, as the dollar weakened.Gold futures for August delivery were down $2.9 or 0.23% to s...Read More
(Updates through close of U.S. trading)By David RandallNEW YORK, July 6 (Reuters) - World stock markets rose and the euro climbed to a three-week peak on Friday as the threat of tariffs by the United States and China on billions of dollars of trade became a reality, though concerns about the conflict escalating capped the appetite for risk.MSCI's measure of world equities markets .MIWD00000PUS ros...Read More
SHANGHAI, Jul 9 (SMM) – Ferrous and nonferrous metals rallied on Monday July 9 as China’s foreign exchange reserves rebounded in June, and as the US-China trade conflict slightly receded from the spotlight.SHFE nonferrous metals closed with a mixed performance, with lead and nickel lower. Copper performed strongly and jumped 1.46%. Zinc rose over 1%, and tin and aluminium inc...Read More
SHANGHAI, Jul 9 (SMM) – Copper: LME copper consolidated around the daily moving average at $6,300/mt during the European trading session, after rising to a high of $6,334/mt on weaker US dollar. It closed at $6,308.5/mt, down $15.5/mt from the previous trading day. The SHFE 1809 contract was pushed up by longs to a high of 49,380 yuan/mt last Friday night, and closed at that level. As d...Read More
(Updates with early afternoon trading)By David RandallNEW YORK, July 6 (Reuters) - World stock markets rose and the euro climbed to a three-week peak on Friday as the threat of tariffs by the United States and China on billions of dollars of trade became a reality, though concerns about the conflict escalating capped the appetite for risk.MSCI's measure of world equities markets .MIWD00000PUS rose...Read More
Investing.com - Gold prices remained lower on Friday as the U.S. dollar weakened and U.S. trade tariffs against China went into effect.Comex gold futures for August delivery decreased 0.16% to $1,256.80 a troy ounce as of 10:24 AM ET (14:24 GMT).Trade conflict between the two biggest economies in the world began in force on Friday, when U.S. tariffs on $34 billion worth of Chinese goods went into...Read More
* World stocks up 0.2 pct, China shares rise* Tariffs on Chinese goods kick in, Beijing retaliates* Economic barometer copper falls* Market volatility falls even as uncertainty risesBy Saikat ChatterjeeLONDON, July 6 (Reuters) - Stocks rose and the euro climbed to a three-week peak as the imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by ma...Read More
(Bloomberg) -- Donald Trump’s attempts to re-balance global trade have already sent the metals world into a tizzy. As countries respond to U.S. tariffs and sanctions, the disarray is set to increase.Steel prices and aluminum premiums are shooting up in the U.S. thanks to tariffs, threatening to wreak havoc on manufacturers. Everywhere else metal prices are on a roller-coaster ride, with copp...Read More
Investing.com - Gold prices were lower on Friday as the U.S. dollar weakened and U.S. trade tariffs against China went into effect.Comex gold futures for August delivery decreased 0.21% to $1,256.20 a troy ounce as of 6:06 AM ET (10:06 GMT).U.S. tariffs on $34 billion worth of Chinese goods went into effect at 12:01 AM ET (04:01 GMT) on Friday, with additional tariffs on another $16 billion expect...Read More
* World stocks up 0.2 pct, China shares rise* Tariffs on Chinese goods kick in, Beijing retaliates* Economic barometer copper falls* U.S. crude price stick upBy Saikat ChatterjeeLONDON, July 6 (Reuters) - The imposition of tariffs by the United States and China on billions of dollars of trade was absorbed calmly by markets on Friday with stocks edging higher and the euro climbing a three-week peak...Read More
* U.S. tariffs on $34 bln of imported Chinese goods begin* China says will take action to respond to U.S. tariffs* Spot iron ore at lowest level in over three months (Updates prices)By Manolo Serapio JrMANILA, July 6 (Reuters) - Chinese steel prices recovered from early losses to trade firmer on Friday as Beijing's efforts to cut production capacity as part of its pollution fight have countered co...Read More
* MSCI Asia ex-Japan index up 0.4 pct, Nikkei gains 1.1 pct* Shanghai shares fall near 2016 low, then recover sharply* Tariffs on $34 bln of Chinese imports to U.S. now in effect* European markets seen opening 0.5-0.6 pct higher* Copper extends losses on worries about global growthBy Andrew Galbraith and Hideyuki SanoSHANGHAI/TOKYO, July 6 (Reuters) - Asian stocks bounced back from 9-month lows in...Read More
(Adds company news items and futures)July 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 26 points higher at 7,630 on Friday, according to financial bookmakers, with futures FFIc1 up 0.44 percent ahead of the cash market open.* ROLLS-ROYCE: Rolls-Royce Holdings RR.L said it would sell its loss-making commercial marine business to Kongsberg Gruppen ASA KOG.OL for an enterprise value...Read More
July 6 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 26 points higher at 7,630 on Friday, according to financial bookmakers.* BHP BILLITON: Negotiations between workers and BHP Billiton Plc BLT.L at the Escondida copper mine in Chile, the world's largest, are "far from reaching agreement" with less than three weeks to go before the negotiation deadline, a union official told Reuters o...Read More
* MSCI Asia ex-Japan index down 0.1 pct, Nikkei up 1.1 pct* Shanghai shares fall to near 2016 low, then recover* Tariffs on $34 bln of Chinese imports to U.S. now in effect* Copper extends losses on worries about global growthBy Andrew Galbraith and Hideyuki SanoSHANGHAI/TOKYO, July 6 (Reuters) - Asian stocks wobbled on Friday, as Washington slapped tariffs on Chinese imports, a move many investor...Read More
SANTIAGO, July 6 (Reuters) - Labor negotiations at BHP Billiton Plc Escondida copper mine in Chile, the world's largest, are entering into the final three weeks before a 30-month contract expires at the end of July.The closely watched talks come little more than one year after failure to reach a labor deal at the sprawling deposit led to a 44-day strike that jolted the global copper market.How are...Read More
(Bloomberg) - Zambia is shelving projects that aren't almost complete and will renegotiate loans as it seeks to contain ballooning debt and entice the International Monetary Fund to restart talks on a support package.The IMF has warned the southern African nation is at high risk of debt distress, while investors have grown skeptical about the amount of external loans the country claims it has inc...Read More
LONDON, July 6 (Reuters) - Private equity-backed Chilean miner Mantos Copper is looking to find a buyer to help finance the expansion of mines it bought from Anglo American in 2015, it said.The company's owner, a consortium led by British investment company Audley Capital Advisors and Orion Mine Finance Group, bought the Mantos Blancos and Mantoverde copper mines from Anglo for $300 million plus $...Read More